Blockchain Startup Gem Kickstarts 2016 with a $7.1m Series A Round

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Blockchain API provider Gem kickstarted 2016 with a $7.1m Series A announced this week.

Gem, a leading blockchain platform provider, announced the funding was led by Pelion Venture Partners and participated in by KEC Ventures, Blockchain Capital, Digital Currency Group, RRE Ventures and more.

“We believe blockchain technology will transform how people and companies interact,” says Micah Winkelspecht, CEO and founder of Gem. “It will underpin entire industries and one day produce a blockchain economy that will form the underlying architecture of our daily lives.”

According to a recent report by technology-focused boutique investment bank Magister Advisors, the blockchain and bitcoin ecosystem received nearly $1 billion in funding since 2013, and that number is expected to increase by another $1 billion in 2017. Gem is the first blockchain company in 2016 to announce a formal round of funding. Gem’s investors are attracted to its fully customizable platform that refines blockchain technology into a data management application that can be applied cross-industry.

Ben Dahl, a partner at Pelion Venture Partners who led the funding round and has also joined Gem’s Board of Directors said:

“We have been monitoring the blockchain industry looking for a company that could bridge the divide between enabling developers and their projects, while also advancing blockchain use cases in larger enterprises. After spending time with Gem team and their customers, we became convinced they have the foresight, traction and leadership necessary to connect the enterprise with the efficiencies and benefits of blockchains.”

“It was obvious to us immediately the Pelion team shared our vision for the future of blockchains and what would be required to get there,” said Gem Founder and CEO, Micah Winkelspecht. “We’re excited to have Ben and Pelion join the team and help us do something special.”

Gem was founded by Blockchain thought leader, open-source contributor, and community organizer Micah Winkelspecht and launched at TechCrunch Disrupt SF’s Startup Battlefield in 2014. After launching a multisignature API for developers, the company is now working to promote the integration of blockchain technology in finance, healthcare, and other data-reliant industries.

Jeff Parkinson, partner of KEC Ventures said:

“I’m really excited about blockchain ledger systems, and Gem is a great example of a company that’s fully leveraging the potential of that technology to transform the services industry.”

Scott Kriz, CEO of Bitium has also been appointed to Gem’s Board of Directors. Gem has raised $10.4 million in total funding and is based in Venice, CA.

 

For more information, please visit: https://gem.co

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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